Adam Jones is having a breakout year for the Baltimore Orioles, who are in turn having a breakout year themselves. There are a lot of things going right for the Orioles, but Jones might be the most high-profile improvement. And like they did with Nick Markakis and Brian Roberts before, they decided that Jones is a (somewhat) homegrown star whom they didn't want to be without.
From the Rosenthal/Morosi duo:
That's a pretty balanced figure on the risk/reward spectrum. If Jones is no more than the above-average center fielder he's been for the past four years, it's still a fair deal. If his breakout is for real, though, he'll probably be underpaid.
The 26-year-old Jones had one more year of arbitration eligibility left, and was scheduled to be a free agent after the 2013 season.